Will I have enough to Live in Udon Thani with this

[elliss]

the Samaritans hung up on him..Quote.

The local Udon Samaritan ,,,has sadly toped himself .

Cause of death , reading too much local forum crap .

RIP.

[BARRIE44]

You can't get a land lease of your wife

What do You mean exactly

I am under the understanding that I could lease it for 30 Years off Her with the added Memo that if the Laws change then I could be entitled to half I don`t care about the other half bit the Lease I do though

Is it the Term Wife that is the concern or ?

Cheers

Barrie

[rocketboybkk]

I'm a year younger than you and have about 5 times more.

I retired last year but work with my wife legitimately here in Thailand. All of my assets are in home country and all are reinvested. I won't touch it beginning 48 years (my plan).

I've planned and budgeted and am comfortable knowing there is enough even accounting for contingent large expenses.

You don't have enough.

You'll need minimum double what you have to make it work here but hey, sell it all, set up shop here, and see how it goes.

Hiya and Thankyou

Our plan is to have some form of work all of My figures though are based on the worst scenario

I would have had 10 times what I have now if 2008 didn`t happen hence My lack of positivity for the West Corporate World

Cheers for the info though

Warm Regards

Barrie

Hang on, it's another would of been zillionaire who unfortunately only has a UK property worth £110k

Mmmm...

I can see where this is going now

In out

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[BARRIE44]

Oh dear oh dear....so you are not married? and you have bought the land in your gf's name? Don't sell your Uk house, If things go 'belly up' with you and your gf, you will need your house in the Uk, you will own nothing in Thailand....just be careful what you buy out of the marriage, it will be very difficult, if not impossible to get any of it back....chok dee

Hiya Ghostnigel

Yeah fair point I ain`t quite that Mad Yet though

Put small deposit on Land which We are Paying up in Full on Our next Visit also intending to Marry then

We have been together for quite a Few Years now and We do know each other pretty well

I am unsure Whether to Marry just before Land Purchase or after though Your Thoughts ?

I read somewhere that it was better for Me if things went wrong that She had Possessions before We Wed ? doesn`t sound right to Me either

30 Year Lease Will also be put in place at time of Land Payment/Signing as Well

Cheers Again

Barrie

I have been here 34 years live in Udon city--------rent my friend --lease land---buy for what ?? I rent my 3 bed bungalow for 150 quid a month. 3 bathrooms -2 hot shower--3 bedrooms--car space for 3--2 air con rooms--good size gardens--walled surround. I live comfortable for 200quid a month, rent extra.-----BUT I choose to be single ---and rent when I want---no hassle. Your actual wants are far greater than mine-----I had one house stolen here --that taught me the way I think. all the best mate. Tony.

Cheers for that Tony

We wanted something for ours more of a Western thinking may be ?

The thing is We do want to develop the Land into what We want and not be in the City either

You say You live comfortably on 200 GBP a month which wants of mine do You consider greater ?

Thanks again

Barrie

[lanng khao]

So Bazza, what are you going to do kid, life's to short to be getting the shuddas, shudda done this ,shudda done that, it's only a visit so make the most of it, if it goes Pete tong so what, you won't be the first,and like your bird before you met her you will survive mate. Your only 45, goed get stuck in you will piss it,and your well clued up, people who don't make mistakes don't make anything...

[SunsetT]

I think now that you only need 30yrs NI contributions for a full UK State pension as opposed to a certain %age of your working life as it used to be. Contact the NI Dept. in Newcastle to check this. I have found them very helpful. But ,of course, they could narrow the goal posts in the future.

Good luck Barrie.

[chiang mai]

You can't get a land lease of your wife

What do You mean exactly

I am under the understanding that I could lease it for 30 Years off Her with the added Memo that if the Laws change then I could be entitled to half I don`t care about the other half bit the Lease I do though

Is it the Term Wife that is the concern or ?

Cheers

Barrie

A 30 year lease with a wife is not secure, it can be broken, far better to leave ownership of the land in the wife's name and take out an usufruct.

[chiang mai]

3 mill. for a build, ex land, is a fair price to build something nice and equip it to a decent standard. Sure it's possible to get away cheaper, make it smaller, use lower quality, use C Grade tiles, have to ak yourself though, why would you when you don't have to. Now if the OP would have said 500k or 10 mill., I would have said no way, but 3 mill. is very fair.

Hiya Again

Yeah it will plenty big enough and nice enough for us Two and Family visitors from the UK they will pay

for all entertainment when they arrive

I intend to fund a pool with that budget as well mind

All based on 20000 GBP per each 100M2 and I have already gotten cheaper prices xthan that already

And I have designed the House Myself

Cheers

Barrie

Just for information, not an opinion in any way: A build at 10k baht per square metre will give you basic fittings, it's been said repeatedly on TVF over time that 20k will give you medium quality whilst 30k will give you good quality, many spend up to 40k or more to achieve a high quality western standard - mileage and taste varies based on location, individuals and taste.

But I do think you'll be hard pressed to include a pool at that price, we've had quotes recently that have come in at between 18k and 27k per square metre and this for a 4 metre by 7 metre, 1.5 metre deep, nothing fancy. Good luck regardless.

[DILLIGAD]

I think now that you only need 30yrs NI contributions for a full UK State pension as opposed to a certain %age of your working life as it used to be. Contact the NI Dept. in Newcastle to check this. I have found them very helpful. But ,of course, they could narrow the goal posts in the future.

Good luck Barrie.

I think you will find that it's gone up to 35 years recently.

[BARRIE44]

Their girls are always different, LOL.

To the OP, how many Thai women have you been involved with on a long term relationship?

Whats the longest you have spent in Thailand at any one time?

Can you speak and read the language?

Hiya

All answered previously sorry

I have however also experienced Western Women extremely high maintenance and I am sure that I have heard of a few Western Women leaving their Western Husbands for a richer one I read it in the Papers I think

Yes I do understand that there is a massive difference/unknown with them I don`t want the same same in life though

And this post was always supposed to be about selling/renting/and how much do I really need (if My GF stays with Me)

All advice has been appreciated though

You speak or read the Thai Language fluently before You lived there permanently ?

Cheers

Barrie

[BARRIE44]

I've heard of married Thai women living with foreigners for years then when the house and everything is all paid for..see you!

Why sell everything? And why eat poor peoples food just to be able to live?

I've been here 15 years, been with my gf 8, buy I wouldn't spend a

L that..crazy!

Only my opinion.

All fair points except Why would I want to live on Glutunous/stodgy food filled with a million E additives just have a look at ASPARTAME please do and radioactive insecticides

Why wouldn`t I want to eat poor peoples HONEST food We all used to a long time ago and were all better off for it

Cheers

Barrie

[BARRIE44]

Hi Barrie - The reason you are probably feeling a bit insecure is that your formulas run very tight… not a lot of room for miscellaneous and just life to happen… you can find positives and negatives in all - - I have had rental properties and great tenants and life was wonderful. The last time I had rental property was in the 90s and it went from bad to worse and I really had to be there to deal with it. My last 2 tenants were only a matter of how much I would lose until I could get them evicted...

And the point I am making is that plans are great on paper and you should have them, but also realize your risks - - you seem to be thoughtful which is a help. There are always trade-offs in life between time/money and enjoyment of life…

So, stay as flexible as you can. As they say, life is what happens while you are busy making plans...

Hiya andc Thankyou kenk24

Yeah My formulas are running very tight indeed

My main reason for the OP was to see if it was enough and also I suppose to find out how much longer I might have to wait and Yeah still a few trade offs left yet Me thinks

And they also say that Life is a box of Chocolates

Cheers

Barrie

[BARRIE44]

Stay tuned for the wreckage, the world looks good through rose coloured glasses, luckily the glasses are cheap.

Luckily I don`t wear glasses and I am a bit unsure about the wreckage thing as I have only been asking for some advice which most people on here have been giving except You

To be fair if I wanted a Commentary wouldn`t I use a Radio or TV or if I wanted commentary like Yours then May be I would go and talk to the Buffalo

Cheers

Barrie

[BARRIE44]

Yes what you are asking can be done question is can YOU do it

Sent from my LG g3

Hiya hereforgood

Yes that is probably the right answer and Yes I can

Although by the looks of it I shouldn`t quite Yet

Cheers

Barrie

[rocketboybkk]

Another 5 yrs in UK would make a difference I think

Most important is to pay full NI contributions

If people think you can live in isaan on £200gbp a month you'll be laughing at 67 when you get it

Me, I think you'll need a that a week in reality. I'd say £1000 a month and you'll not have to worry.

But that will be an isaan life, if you want to holiday etc. you'll struggle

Forget 2 mopeds & a jeep

Get 1 moped - don't start financing things for the Thai family- if you start you'll never stop funding them. Look & pay for you & wife

No one else - don't fall into the trap - brother wants to borrow jeep, sister wants to use 1 moped, mum need her monthly medicine - wely expenshive- we pay this month

You get where I'm going with this

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[joeboxer]

Much better to keep your house in the UK. Find a reputable Estate Agent, who will manage your property for between 5%-10%. There are some who guarantee no voids and pay you every month, whether or not there is a tenant, however, they will charge more for this service. The upside is that you know you are getting £x rental income every month and the agent's fees are tax deductible.

You obviously don't need the capital at this stage of your life, with the figures you have mentioned, and house prices in the UK are starting to rise. Makes more sense to have a regular rental income and a steadily appreciating asset that will be worth much more should you ever need to sell in the future.

With your house valued at £110000 and a rental income of £4600 (that seems very low?) you would be grossing 4.18%.

Good luck with whatever you decide to do.

[ableguy]

No GF not Working Possibilities with earning some Extra Income though.Extremely Low Maintenance She always has been and that`s Living in the UK as Well.Just worried about Problems with Renting out accommodation and having it Vacant at all.

I think that We could Probably get by on Interest alone it`s just obviously a long Term thing without really knowing the Future Economy Etc.

I know I am just Wanting Christmas to come early and all and I really don`t expect to return back to the UK to live again

Thanks for Your reply though

Cheers

Barrie

I tried renting my house in the UK for around 25'000 baht per month, using an agent.

It was a bloody nightmare, tenants lasted about one year not because of the house but divorce , being sent to jail, in five years I had to fly back six times to sort the mess out, clean up the house, the last tenant stripped the house before vacating, curtains plus the runners all Venetian blinds all garden tools, all the house keys, even the fixed to wall mirror in the bathroom.

The agency claimed they did not have any proof of what was in the house as their employee who did the inventory had left their employment, of course I had pics and could have sued them and won damages but I live in Thailand so how the hell could I do that, I bit the bullet and sold the house at a loss.

The house was in a very popular coastal town two hundred yards from the beach. Bridling ton.

Sell the house no way to be a long distance land lord, I have yet to extract my revenge on this individual but I can assure all readers it will come to pass..

[rocketboybkk]

Use a decent agent

I've got 2 flats i rent in UK

No tenant issues, agent inspects every 3 months, rent unfurnished other than kitchen white goods

Yeah, problems occur & being in Thai would be more difficult

I rented my house in Thai & that was a nightmare

Vice versa

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[ableguy]

You can't get a land lease of your wife

What do You mean exactly

I am under the understanding that I could lease it for 30 Years off Her with the added Memo that if the Laws change then I could be entitled to half I don`t care about the other half bit the Lease I do though

Is it the Term Wife that is the concern or ?

Cheers

Barrie

A 30 year lease with a wife is not secure, it can be broken, far better to leave ownership of the land in the wife's name and take out an usufruct.

Your wife can borrow money on the land title deed, she does not repay the loan and the bank re possesses it, you are kicked out as a lease means nothing, you do not have a lease with bank who now own it.

Advise from my lawyer , a usufruct is the only way to go.

[Thai at Heart]

Very very tight on that budget

[little mary sunshine]

B250000/yr Gross rental income...less taxes, repairs to house,

Possible vacant several months/year ....more realistic annual

Income=B160000/year...divide by 12 months. 13,333/month.

£20000 need for emergency, travel home,medical. Leaves

£120000 for entire savings....U R 45 ...why would anyone

Want to retire and lose out on the most productive income

Earning years of their life (45-60) ? You will live like a peasant

Even in Thailand with that little money that has to last 30-40

years. Even with a conservative 4% return on your savings

You need a lot more money.

[SlyAnimal]

A few points:

1/ The income which you're proposing isn't enough to live comfortably on. You could live on it, but you wouldn't be "comfortable" and you'd likely end up dipping into your savings/nestegg when "special occasions" come up like holidays or medical problems etc.

2/ If you were to try and do this anyway, you'd likely be better off keeping the money in a combination of stocks & property to spread your risk. Don't put money in the bank, as money depreciates over time and interest rates are usually only less than or equal to inflation. By comparison stocks/property go up with inflation.

3/ The consistency of rental income depends on the area. Best plan is to spread your risk over multiple properties if you're reliant on it.

4/ you could potentially subsidize your cost of living by teaching English at a local school. A bachelor degree would assist with this, it'd be worth enquiries to see if this is an option or not.

4/ If you were able to teach, you could live off that and reinvest your 40k into another property with the 2x properties then repaying the mortgage. This could then be your long term (10+ years) plan. However if you did the same thing, while working in the UK, you'd likely be in a much better financial position, at a much earlier point in life (e.g. If you brought another 100k property with the 40k, and could repay 2k+ capital per month, you'd have 2x fully paid off properties within 5 years. Which would mean double the rental income, and a lot better financial position, from there a 3rd/4th property could be paid off even faster due to the increased rental income).

5/ If you're thinking about having kids, then you need even more money. As you'd want the best for them.

6/ If you're not working, you'll need more money than if you are working. As you'll have so much free time that you'll get bored, and curing boredom can be expensive (depending on what type of person you are).

[BARRIE44]

Hiya I am not avoiding answering some of the more recent posts I have just been up to My neck in stuff at the Moment

I think that this would still be relevant within this Topic

I have asked the following question to some Solicitors in Udon Thani

Good Morning

My name is Barrie Dix and I am currently Living with My Thai Girl Friend in the UK and have been doing so for the past five years

We have just put a 25000 THB deposit on 3.5 Rai of Land 20 KMS outside Udon Thani the remaining 925000 THB We are paying in full in October

Ok My questions are

1 Could You please give Me a quotation for overseeing the whole deal as in checking the Chanote/Measurements coming to Amphur and whatever else is required

2 I will be requiring either a 30 Year lease on the Land on the day of purchase or a Usufruct.A bit of advice is needed on this one if You could Please

Also would You advise Marriage before or after Land purchase ?

All of this I am hoping can all be in place for early October as We are in the country for a week then

If You could give Me Your thoughts on the above Please it would be greatly appreciated

Thankyou for Your time

Warm Regards

And the following is the answer from one of them

Hi,

We would advise you to make a transfer before marriage and do a 30 years lease with options to renew.

A usufruct can also be done, but might be more difficult in Udon.

Our fees would be 35,000 baht all included. Legal advice, 4 documents including a lease, an addendum, a receipt and another document to protect the renewal. It includes contracts in Thai and English.

We will also check the title deed and send a lawyer for the transfer and registration.

Regards,

Is this a fair price and is this good advice regarding the 30 Year Lease and the Usufruct

Cheers

Barrie

[rocketboybkk]

It's a lot in Isaan.

But, if you're happy

I would seek other quotes as you probably would done the UK

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[chiang mai]

The OP should read at least Page 3 of this thread regarding usufructs:

http://www.thaivisa.com/forum/topic/846913-usefruct-in-pattaya-did-it-work-for-you/page-3

[DILLIGAD]

Why is a usafruct difficult in Udon? Or is it more than they can do?

Get other quotes as suggested as "some" Lawyers in Thailand are criminals in suits. I am not saying your choice is like that and I hope they come from recommendations.

[rgs2001uk]

^^^^, Unbelievable, why is it these guys who dont live here or speak the language know better than those who do.

[BARRIE44]

^^^^, Unbelievable, why is it these guys who dont live here or speak the language know better than those who do.

What have I done now

[BARRIE44]

Why is a usafruct difficult in Udon? Or is it more than they can do?

Get other quotes as suggested as "some" Lawyers in Thailand are criminals in suits. I am not saying your choice is like that and I hope they come from recommendations.

Hiya

I know that's why I posted it why would Udon be harder I am baffled ?

The advice is from Issan Lawyers who I heard were quite good even though I did expect a high price

Not sure if that is a high price or not I will go searching tonight though

I am waiting for three more quotes as well

Cheers

Barrie

[rgs2001uk]

^^^, sorry mate no offence meant, it would appear there are now two diiferent threads running on one, its kinda hard to keep up with what Barrie said what.

This is who you need to speak to.

http://www.tilleke.com/